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Reliance Ind completes acquisition of 5% in Eros International

6 August, 2018 3:02 PM
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Reliance Ind completes acquisition of 5% in Eros International

Entertainment firm Eros International today said that Reliance Industries has completed taking 5 percent stake following customary approval processes.

"Following customary approval processes, the sale of a 5 percent stake in Eros to Reliance Industries, previously announced on February 20, has been completed," it said in a statement.

Reliance has acquired 3,111,088 newly issued 'A ordinary shares' from Eros which represents 5 percent of Eros's current issued and outstanding ordinary share capital on a pro forma basis.

The purchase price was USD 15 per share, which represents a total cash consideration of USD 46.6 million.

Goldman Sachs acted as exclusive financial advisor to Eros International in this transaction.

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Source: moneycontrol.com

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